Brief: Raisio Q2 EBIT Stable At EUR 7 Million

Raisio Oyj

05/08/2020 06:42

Aug 5 (Reuters) - Raisio Oyj  RAIVV.HE :
    * Q2 NET SALES EUR 59.9 MILLION VERSUS EUR 62.7 MILLION YEAR AGO
    * Q2 EBIT WAS EUR 7.0 (7.3) MILLION, ACCOUNTING FOR 11.6 (11.6)% OF NET SALES
    * DUE TO POTENTIAL SECOND WAVE OF COVID-19 PANDEMIC AND PROLONGED STATE OF PANDEMIC IN
GENERAL,
RAISIO WITHDRAWS ITS OUTLOOK FOR 2020
    * PANIC BUYING IN RESPONSE TO PANDEMIC THAT TOOK HOLD IN MARCH CAUSED A SUDDEN PEAK IN
DEMAND,
WHICH CONTINUED FOR A NUMBER OF WEEKS
    * Q2 GROUP'S CASH FLOW FROM BUSINESS OPERATIONS AFTER FINANCIAL ITEMS AND TAXES TOTALLED EUR
6.0
(3.4) MILLION.
    * RAISIO'S INVESTMENTS ARE GROWING DYNAMICALLY AS WE IMPLEMENT PROJECTS DESIGNED TO SUPPORT
OUR
STRATEGY
    * DURING Q2, DEMAND EVENED OUT QUICKLY AND THERE WAS A NOTABLE FLUCTUATION BETWEEN MONTHS,
BOTH IN
TERMS OF VOLUME AND DIFFERENT MARKETS

Source text for Eikon:  ID:nWkr20yZD8 
Further company coverage:  RAIVV.HE 

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